Financial investment of EUR 1.9 million affecting cultural ventures
Announcing Impact4Art 2: Supporting the Recovery and Growth of the Art and Culture Sector
In a bid to help the art and culture sector recover from the pandemic and thrive, Impact4Art 2, a new investment program, has been launched. This program, a joint initiative by Fondazione Cariplo and Fondazione Social Venture Giordano Dell'Amore, aims to support the growth and development of innovative realities in the art and culture sector.
The first edition of Impact4Art, launched in 2021, made one million euros available to the sector. For its second edition, the 'impact' fund has been increased to 1.9 million euros, reflecting the ongoing need for support in the sector that has been severely impacted by the pandemic.
Impact4Art 2 uses equity investment as a tool for economic development. By taking ownership stakes in arts organizations or creative businesses, the program aims to foster innovation, sustainability, and diversity within the creative economy. The program's portfolio, valued at 2.5 million euros, is invested across multiple promising arts ventures.
The cultural and creative sector has experienced significant decreases in participation in events due to the pandemic. For instance, cinema attendance fell by 81%, theatre visits by 85%, museum visits by 72%, and concert attendance by 82%. The pandemic has also led to a significant loss of jobs, with approximately 55,000 jobs lost in two years.
Marco Gerevini, Board Member of Fondazione Social Venture Giordano Dell'Amore, emphasized the need for diversified support for cultural initiatives, including modern financing tools. Impact4Art 2 is calibrated to offer return objectives over medium to long-term horizons.
Impact4Art 2 expands the current portfolio dedicated to the Art and Culture sector, managed by Fondazione Cariplo. The portfolio includes Oxa (Base Milano), Music Innovation Hub, Kalatà, eArs, Alchemilla, Werea, Sharryland, Artonauti, and Centrica. Fondazione Social Venture Giordano Dell'Amore makes minority participations in equity for Impact4Art 2.
Applications for the second edition of Impact4Art can be submitted on the Foundation's website. For more precise, up-to-date details on Impact4Art 2, including its investment objectives, equity approach, and portfolio impact, consult the official website or press releases from the organization managing Impact4Art 2, specialized platforms focused on arts investment programs, or direct contact with Impact4Art representatives or related arts funding bodies.
[1] Impact4Art Official Website [2] Fondazione Cariplo Official Website [5] Fondazione Social Venture Giordano Dell'Amore Official Website
- The Impact4Art 2 program, aimed at reviving the art and culture sector, also invests in fashion-and-beauty and food-and-drink ventures, aligning with a holistic approach to supporting lifestyle and creativity.
- As the Impact4Art 2 program expands its focus beyond traditional arts, it also includes travel-related industries in its investment portfolio, recognizing the crucial role they play in today's lifestyle and cultural landscape.
